Duplex with Tandem
New
For Sale
$739,000
332-334 Stevens Street, Lowell, MA 01851
Two-family property with separate entrances, utilities, porches, and basement access for each residence.
Property Size3,068 SF
Price / SF$240.87
Days on Market6
Property Features for 332-334 Stevens Street
General Information
Standard status
Active
Size
3,068 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Building Size
3,068 SF
Year Built
1890
Buildings
1
Listing Agency:
Homeplace Realty, Inc.
(978) 423-9750
Listed By:
Borath L. Men · License #452508574
(978) 423-9750
Source:
Iverty
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 6:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Homeplace Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1890, this two-family duplex includes two residences, each arranged with 3 bedrooms, 1 full bathroom, a living room, dining room, eat-in kitchen, porch, and basement access. Separate front and rear entrances support distinct access for the units, while separated gas and electric service adds functional utility separation. The property is being sold in AS IS condition.
The home is located in the Highlands area of Lowell near the Lowell Connector, Route 3, and Route 495. Convenience stores, restaurants, UMass Lowell’s South Campus, and an MBTA bus stop are also identified nearby. On-site parking includes 5+ off-street tandem spaces.
The home is located in the Highlands area of Lowell near the Lowell Connector, Route 3, and Route 495. Convenience stores, restaurants, UMass Lowell’s South Campus, and an MBTA bus stop are also identified nearby. On-site parking includes 5+ off-street tandem spaces.
Key Highlights
- Two‑family duplex built in 1890
- Each unit includes 3 bedrooms and 1 full bathroom
- Separate front and rear entrances for the residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,788
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,215,760
$1.2M
Cap Rate 7%
$868,400
$868.4K
Cap Rate 9%
$675,422
$675.4K
Market Conditions
NOI Build-Up for 3,068 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$93.9K $30.60/SF
− Vacancy
−$7.0K −$2.30/SF
EGI
$86.8K $28.31/SF
− OpEx
−$26.1K −$8.49/SF
NOI
$60.8K $19.81/SF
Area
Lowell, MA
Vacancy
7.50%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,215,760
Cap Rate 7%
$868,400
Cap Rate 9%
$675,422
Alternative Uses
Best Use
Multifamily LT 5
$868.4K
$759.9K – $1.01M
NOI $60,788 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$781.8K
$684.1K – $912.1K
NOI $54,728 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$1.08M
$944.9K – $1.26M
NOI $75,588 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with separate entrances, utilities, porches, and basement access for each residence.
Where is this duplex located?
The property is located at 332-334 Stevens Street Lowell, MA.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Two‑family duplex built in 1890; Each unit includes 3 bedrooms and 1 full bathroom; Separate front and rear entrances for the residences
